Electronic payments (e-payments) specialist Fundtech, has launched a hosted version of Global CASHplus (GCP), its cash management solution, which aims to help banks reduce the cost of hardware installation, maintenance and manpower while focusing on core competencies and growing the business.
The group said that GCP On-Demand is designed for mid- and small-tier banks looking to offer standardised cash management services such as balance and transaction reporting, payables, receivables and financial supply chain to its corporate customers and their treasury departments. The service also benefits large multi-national banks that are entering new markets and need a quick go-to-market cash management service for their corporate customers.
“With GCP On-Demand, banks are fully supported in extensive aspects of treasury management. Fundtech has leveraged its award-winning expertise of providing software services for cash management, SWIFT financial messaging and electronic invoice presentment and payment (EIPP) services to over 500 financial institutions [FIs] and more than 1,000 corporate customers globally,” said Sanjay Dalmia, Fundtech’s executive vice president (EVP) global cash management.
“This new initiative was developed in response to direct feedback provided by our customers and we are already seeing a great interest for the solution in India and other countries in Asia.”
SWIFT has announced that it has successfully completed the first phase of the global payments innovation (GPI) initiative pilot, clearing the way for the go-live of the service in early 2017.
Sentiment in the financial services sector deteriorated in the three months to September, as firms digested the challenges of lower interest rates and the uncertainty caused by the vote to leave the European Union (EU), according to the latest CBI/PwC Financial Services Survey.
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
The proposals of both US presidential candidates could shake up operating conditions in several sectors, reports the credit ratings agency.